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authorTao Effect <contact@taoeffect.com>2016-02-08 18:45:47 -0800
committerbitcoindev <bitcoindev@gnusha.org>2016-02-09 02:45:50 +0000
commit2acff0511c478226327fd500c25dcef337e5b582 (patch)
tree7a223a8abf8e5fc9397fa513fcff425da91990de
parent048ae61a84a75d3dbc22e9531619630d77a10dfd (diff)
downloadpi-bitcoindev-2acff0511c478226327fd500c25dcef337e5b582.tar.gz
pi-bitcoindev-2acff0511c478226327fd500c25dcef337e5b582.zip
Re: [bitcoin-dev] On Hardforks in the Context of SegWit
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+From: Tao Effect <contact@taoeffect.com>
+In-Reply-To: <CAAcC9yuJY3Lsd7Z0rx8TFLNT1fJLhrpxzKJREQ7FmdNNjdXJow@mail.gmail.com>
+Date: Mon, 8 Feb 2016 18:45:47 -0800
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+References: <56B8EBF8.4050602@mattcorallo.com>
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+ <CAAcC9yuJY3Lsd7Z0rx8TFLNT1fJLhrpxzKJREQ7FmdNNjdXJow@mail.gmail.com>
+To: Chris Priest <cp368202@ohiou.edu>
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+Subject: Re: [bitcoin-dev] On Hardforks in the Context of SegWit
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+
+Look, if we=E2=80=99re going to declare something an emergency, we =
+cannot on the one hand say things like: "I strongly believe bitcoin has =
+no place in the world if the fee raise much higher than a few cents per =
+typically-sized transaction=E2=80=9D, and on the other declare that =
+there is an emergency worth redefining what *Bitcoin is* because the =
+average txn fee is on the order of 7 cents [1] and has remained =
+reasonable for some time [2].
+
+If you=E2=80=99d like to understand what a qualifying emergency looks =
+like, read the links:
+
+> =
+http://bitledger.info/why-a-hard-fork-should-be-fought-and-its-not-evil-to=
+-discuss/
+>=20
+> And here:
+>=20
+> =
+http://bitledger.info/hard-fork-risks-and-why-95-should-be-the-standard/
+
+
+In terms of scaling, we are nowhere close to an emergency.
+
+Scaling is priority #4, maybe, and it=E2=80=99s being taken care of.
+
+Meanwhile, we should be directing our attention one the more pressing =
+and serious concerns like mining centralization & privacy.
+
+Mining centralization is a serious issue. It is *not cool* that 4 dudes =
+(and 1 government) have the power to redefine what Bitcoin is *right =
+now*.
+
+Relevant post with suggestions for fixing that:
+
+=
+https://www.reddit.com/r/Bitcoin/comments/44kwf0/the_hardfork_that_bitcoin=
+_really_needs_not/czrh3na
+
+As far as I can tell, P2Pool & GBT are not the same thing, but I=E2=80=99v=
+e been told that P2Pool might use GBT in some way, even though it=E2=80=99=
+s listed on the wiki as not using it. [3]
+
+A hard fork would ideally enforce decentralized mining pools somehow so =
+that transaction selection is done at the edges instead of the center.
+
+Cheers,
+Greg
+
+[1] http://www.cointape.com/
+[2] https://blockchain.info/charts/transaction-fees
+[3] https://en.bitcoin.it/wiki/Comparison_of_mining_pools
+
+> On Feb 8, 2016, at 4:54 PM, Chris Priest <cp368202@ohiou.edu> wrote:
+>=20
+>> Also, if you=E2=80=99re going to do a hard fork, you=E2=80=99d better =
+make the most of it as hard forks must be a *rare* =
+world-is-ending-if-we-don=E2=80=99t-do-it thing
+>=20
+> In my opinion, the network publishing more than 1MB worth of
+> transactions while the limit is still 1MB *is* an emergency worthy of
+> a hard fork.
+>=20
+> If that's not an emergency, then what is?
+>=20
+> I strongly believe bitcoin has no place in the world if the fee raise
+> much higher than a few cents per typically-sized transaction.
+>=20
+> On 2/8/16, Tao Effect via bitcoin-dev
+> <bitcoin-dev@lists.linuxfoundation.org> wrote:
+>> Hard forks should always come in response to some major crisis that =
+all
+>> participants can agree is an actual crisis, as per the excellent =
+rational
+>> here:
+>>=20
+>> =
+http://bitledger.info/why-a-hard-fork-should-be-fought-and-its-not-evil-to=
+-discuss/
+>>=20
+>> And here:
+>>=20
+>> =
+http://bitledger.info/hard-fork-risks-and-why-95-should-be-the-standard/
+>>=20
+>> Also, if you=E2=80=99re going to do a hard fork, you=E2=80=99d better =
+make the most of it as
+>> hard forks must be a *rare* world-is-ending-if-we-don=E2=80=99t-do-it =
+thing
+>> (otherwise Bitcoin cannot be considered decentralized in any sense of =
+the
+>> word).
+>>=20
+>> So for any sort of hard fork, be sure to address the real threats and
+>> challenges that are facing Bitcoin today:
+>>=20
+>> 1. Mining centralization.
+>> 2. Privacy.
+>>=20
+>> Best regards,
+>> Greg Slepak
+>>=20
+
+
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